https://www.taxtmi.com/caselaws?id=459880 ITAT Chennai ruled in favor of the assessee regarding denial of deduction under section 10AA for failure to file Form 56F within prescribed time limits. The tribunal held that filing Form 56F is a directory procedural requirement, not mandatory, and technical default would not jeopardize the deduction claim. The assessee had fulfilled all substantive requirements and was claiming the deduction for the sixth consecutive year. Despite filing the form on 20-12-2018 against the prescribed date of 31-10-2018, the tribunal allowed the deduction as the procedural delay was merely technical in nature. en-us Wed, 03 Jul 2024 00:00:00 +0530 Wed, 01 Jan 2025 18:56:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459880 ITAT Chennai ruled in favor of the assessee regarding denial of deduction under section 10AA for failure to file Form 56F within prescribed time limits. The tribunal held that filing Form 56F is a directory procedural requirement, not mandatory, and technical default would not jeopardize the deduction claim. The assessee had fulfilled all substantive requirements and was claiming the deduction for the sixth consecutive year. Despite filing the form on 20-12-2018 against the prescribed date of 31-10-2018, the tribunal allowed the deduction as the procedural delay was merely technical in nature. Case-Laws Income Tax Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459880